Calculate the missing information in the table 1.1 taking into consideration that the base year is 2015. Year Price of Books Quantity of Books Price of Socks Quantity of Socks Nominal GDP Real GDP GDP Deflator CPI 2015 10 120 12 200 3600 3600 100 2016 12 300 15 200 6600 5400 122.22 2017 14 275 18 180 7090 4910 144.40
Calculate the missing information in the table 1.1 taking into consideration that the base year is 2015. Year Price of Books Quantity of Books Price of Socks Quantity of Socks Nominal GDP Real GDP GDP Deflator CPI 2015 10 120 12 200 3600 3600 100 2016 12 300 15 200 6600 5400 122.22 2017 14 275 18 180 7090 4910 144.40
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Calculate the missing information in the table 1.1 taking into consideration that the base year is
2015.
Year | Price of Books | Quantity of Books | Price of Socks | Quantity of Socks | Nominal |
Real GDP | GDP Deflator | |
2015 | 10 | 120 | 12 | 200 | 3600 | 3600 | 100 | |
2016 | 12 | 300 | 15 | 200 | 6600 | 5400 | 122.22 | |
2017 | 14 | 275 | 18 | 180 | 7090 | 4910 | 144.40 |
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